Zambia hopes to see debt relief soon
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Zambia will conclude debt write-off agreements faster than it initially forecast because donors are queuing up to sign such deals with the country, Finance Minister Ng’andu Magande said on Thursday. Magande said he had been inundated with reminders from donors to conclude write-off agreements after the International Monetary Fund (IMF) endorsed a massive debt relief for the impoverished southern African country. “Most of the donors have been asking me when we will sign final agreements because they want to close the chapter,” Magande said in an interview. Japan on Wednesday cancelled a $692-million (about R4,4-billion) debt owed by Zambia. Japanese ambassador Masaaki Miyashita said his country had cancelled one hundred percent of Zambia’s debt to Tokyo because of its sustained sound economic policies. |